Examlex
Research in different cultures has led to the following conclusion:
Financial Statement
A structured report of the financial performance and position of a company, including the balance sheet, income statement, and cash flow statement.
Temporary/Permanent
Categories of accounts in accounting: temporary accounts are closed at the end of the fiscal year, while permanent accounts are carried over across accounting periods.
General Journal Entries
Records of financial transactions in chronological order as part of the double-entry bookkeeping system.
Effective Interest Rate
The real rate of interest earned or paid on an investment, loan, or other financial product, taking into account the effects of compounding.
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